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Sep 30, 2020
Kinetik Q3 2020 Earnings Report
Altus Midstream's third-quarter results for 2020 were announced, highlighting the contribution of JV pipelines and improvements in the G&P business.
Key Takeaways
Altus Midstream reported a net income of $29 million for Q3 2020. Adjusted EBITDA was approximately $53 million, a 21% increase over the preceding quarter. The company plans to recommend a quarterly dividend of $1.50 per share beginning in March 2021.
JV pipelines and improvement in G&P business drive results.
Continued focus on costs leads to fifth consecutive quarter of lower operating expenses.
Plan to recommend to the board of directors a quarterly dividend of $1.50 per share beginning in March 2021.
Permian Highway Pipeline is more than 97% mechanically complete and is on schedule to be placed into service early in the first quarter of 2021.
Forward Guidance
With the improved outlook across our portfolio, we are raising the midpoint of our 2020 and 2021 Adjusted EBITDA guidance levels.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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